Multifamily Property with
For Sale
$1,900,000
411 7th Ave, Asbury Park, NJ 07712
Historic residence with an attached apartment, separate cottage, wraparound porch, and flexible living arrangements.
Property Size4,246 SF
Price / SF$447.48
Days on Market47
Property Features for 411 7th Ave
General Information
Standard status
Active
Size
4,246 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
3rd flr has 3 beds but no heat
Building Details
Year Built
1881
Listing Agency:
RE/MAX Gateway
Listed By:
Robert M Roccia · License #230927
(732) 890-0598
Source:
Soldbypattie
Added: Sep 10
Changed: Oct 25
Last Checked: Oct 7 at 5:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Gateway
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Investment Insights
Based on property information with market context.
Built in 1881, this multifamily property includes a substantial main residence, an attached one-bedroom apartment, and a separate two-story cottage. The primary home retains original architectural details, including 10-foot ceilings, hardwood floors, detailed mouldings, a formal dining room, a living room with decorative fireplace, and a large staircase extending through three levels. The fourth level includes a widow's walk. The third floor has three bedrooms but no heat, while the second floor contains two rooms and a bedroom opening to a deck.
A wraparound porch provides separate outdoor areas for the owners and tenant. The property also includes a basement entry and a yard between the two buildings. The attached apartment could be incorporated into the main residence by removing one wall. The existing tenant occupies the property under a month-to-month lease. The property is offered as-is and is currently listed as coming soon and not available for showings.
A wraparound porch provides separate outdoor areas for the owners and tenant. The property also includes a basement entry and a yard between the two buildings. The attached apartment could be incorporated into the main residence by removing one wall. The existing tenant occupies the property under a month-to-month lease. The property is offered as-is and is currently listed as coming soon and not available for showings.
Key Highlights
- Main residence, attached 1‑bedroom apartment, and separate 2‑story cottage
- 4,246 square feet on the property
- Built in 1881 with original architectural details
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,295
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,305,900
$1.3M
Cap Rate 7%
$932,786
$932.8K
Cap Rate 9%
$725,500
$725.5K
Market Conditions
NOI Build-Up for 4,246 SF
Gross rent
$127.4K $30.00/SF
− Vacancy
−$8.7K −$2.04/SF
EGI
$118.7K $27.96/SF
− OpEx
−$53.4K −$12.58/SF
NOI
$65.3K $15.38/SF
Area
Monmouth County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,305,900
Cap Rate 7%
$932,786
Cap Rate 9%
$725,500
Alternative Uses
Best Use
Apartment 5plus
$932.8K
$816.2K – $1.09M
NOI $65,295 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$970.1K – $1.29M
NOI $77,610 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
963
Businesses Nearby
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Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Historic residence with an attached apartment, separate cottage, wraparound porch, and flexible living arrangements.
Where is this multifamily property located?
The property is located at 411 7th Ave Asbury Park, NJ.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Main residence, attached 1‑bedroom apartment, and separate 2‑story cottage; 4,246 square feet on the property; Built in 1881 with original architectural details
